It’s Not What School You Went to, It’s The Kind of Person You Are, Part II

Left to their own devicies with the investment opportunity set now available the banks will earn their way out of the hole over a period of years. Miserably run as the banks are, this is preferable to handing a nationalized system over to the Harvard geeks. As I’ve said in the past, the prospect of bank nationalization fills me with mixed feelings. I would love to see the bankers get their come-uppance, if it did not mean that we actually would be governed by the late Willam F. Buckley’s nightmare regime, the faculty of Harvard University.

But, based on experience, I don’t see any relief any time soon. If ever, in this Republic. We are simply too addicted to Ivy League pap.